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Ikea has announced that it will be cutting 7,500 jobs worldwide as it plans to shift its focus to smaller store concepts and online shopping. The cuts will mainly affect its offices and global functions. The Swedish retailer will also be creating 11,500 new jobs over the next two years through the opening...

Mothercare has announced that it made pre-tax losses of £6.2 million in the 28 weeks to 26th October.  In the same period last year, they made a loss of £2.6 million. Like-for-like sales were down 11.1% in the period. The company has planned to save £19 million in costs by restructuring.  It...

H&M is set to open a new concept store in place of its existing store in Hammersmith next month. The store will feature 2,300 square metres of selling space and have a completely new look and feel.  H&M are looking to use the store as a test to improving customer experience. The...

A deeper investigation I set to begin into the accountancy firm responsible for auditing Patisserie Holdings. Grant Thornton is the firm under investigation, with The Financial Reporting Council saying that they will delve into audits held over the last three years. Chris March, who is the former finance director of Patisserie Valerie, was...

Kingfisher has reported that third quarter like-for-like sales at B&Q in the UK and Ireland were down by 2.9% amid plans to exit Russia, Spain and Portugal. The company has said that it was making good progress with its transformation plan and was set to achieve its main strategic milestones for...

Arket has opened the doors to its first store in the West Midlands.  The store is located in the Bullring centre in Birmingham. As well as clothing and accessories, the 13,000 square foot unit also features a Nordic inspired café. The opening is a step towards H&M’s plans to expand Arket throughout...

& Other Stories has opened their new North West flagship store on Liverpool ONE’s South John Street. The 5,500 square feet store was designed by an in-house team and will stock the full & Other Stories product line, including womenswear, accessories, bags, jewellery, beauty products, shoes and ready-to-wear collections. Director of asset...

Mike Ashley announced the closure of half of Evans Cycles stores, despite advice by administrators that ‘almost all the stores were profitable’. The proposals document obtained by The Telegraph showed that PricewaterhouseCoopers that although almost all of the stores were still profitable, the decision to close them was made due to...

Urban Outfitters said on Monday that its Q3 revenue for 2018 was up by 9%.  Net income grew to $78 million. Total sales in Q3 were $974 million, which was up from $893 million the previous year. The overall profit margin grew by 3% year-on-year to 8%, from 5% the previous year. A...

Sainsbury’s has become the first UK high street supermarket to stock edible insects. Barbecue-flavour roasted crickets will be sold in 250 stores across the country. The range is said to be ‘crunchy in texture with a rich smoky flavour’. Packets of the insects will cost £1.50. The same range has been on sale from...